Tuesday, Jun. 30, 2009

Arizona: Where Developers Developed and Developed and...

Scottsdale — 28626 N. 108th Way
Original price: $2.4 million
Current listing: $1.5 million

The stucco-and-brick home boasts beautiful mountain views, but that hasn't helped the price, down 36% in the past 14 months. The house features a private pool and spa, five bedrooms, 5½ baths and four fireplaces. It's located in the Candlewood Estates subdivision, an area desirable in good times because of its proximity to Troon North Golf Community, says agent Brian Culhane. However, "in bad times, the homes seem significantly overpriced and packed too close together vs. spending just slightly more and being in Troon North itself."